Ashby, who is single and age 30, provides you with the following information from his financial records for 2014.
$\begin{array}{lr}
\text { Regular income tax liability } & \$ 47,228 \
\text { AMT positive adjustments } & 40,000 \
\text { AMT preferences } & 20,000 \
\text { Taxable income } & 195,000
\end{array}$

Calculate his AMT exemption for 2014.
A) $0.
B) $17,000.
C) $51,900.
D) $52,800.
E) None of the above.

Question

Ashby, who is single and age 30, provides you with the following information from his financial records for 2014.
$\begin{array}{lr}
\text { Regular income tax liability } & \$ 47,228 \
\text { AMT positive adjustments } & 40,000 \
\text { AMT preferences } & 20,000 \
\text { Taxable income } & 195,000
\end{array}$

Calculate his AMT exemption for 2014. 
A) $0.
B) $17,000.
C) $51,900.
D) $52,800.
E) None of the above.

Quizplus · Accepted Answer

The Answer of Ashby, who is single and age 30, provides you with the following information from his financial records for 2014.
$\begin{array}{lr}
\text { Regular income tax liability } & \$ 47,228 \
\text { AMT positive adjustments } & 40,000 \
\text { AMT preferences } & 20,000 \
\text { Taxable income } & 195,000
\end{array}$

Calculate his AMT exemption for 2014. 
A) $0.
B) $17,000.
C) $51,900.
D) $52,800.
E) None of the above.

Ashby, Who Is Single and Age 30, Provides You with the Following